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In a move that has captivated the retail landscape, Lotte Group, a titan in South Korea’s retail industry, is making waves with its latest investment in the e-commerce sector. This ambitious strategy could well reshape the dynamics of online shopping in Asia.…
South Korea’s Lotte Group has agreed to acquire a 100% stake in Ministop Korea for 313.4 billion won ($263 million), the country’s fifth-largest convenience store chain, from Japan’s Aeon Co., Lotte said on Jan. 21. With the purchase in cash, Lotte’s…
Following a 30 per cent drop in duty-free sales last month and the virtual closure of more than 100 supermarkets and discount shops in China, the Lotte Group has cancelled its US$4.5 billion IPO. Its woes are fallout from the mainland’s objection to South…
Shin Kyuk-ho, founder and general chairman of the Korean retailer Lotte, has been removed from his company by shareholders, solidifying the succession of his second son, Shin Dong-bin, and coming closer to ending a family feud that started in 2015. Lotte is…
IBM has signed an agreement with the Lotte Group to provide cloud-based IBM Watson solutions to help the Group deliver innovation across the business and become a world-class retail company. Lotte Group represents the country´s largest retailer in a highly…
South Korean prosecutors will file charges on Wednesday against Lotte Group’s chairman, Shin Dong-bin, father and brother alleging they committed offences such as embezzlement and breach of trust worth hundreds of millions of dollars at the family-owned…
Lotte Department Store has signed on to a joint venture with Citic Group, a state-owned Chinese company, to operate a shopping mall in Shanghai and to build three more in the region between 2017 and 2019, the Korean company announced Monday. The joint venture…
A local news agency reports that a suicide note was found in the executive’s car. A senior executive at South Korea’s Lotte Group was found dead on Friday, a suspected suicide, hours before he was to be questioned by prosecutors conducting a criminal probe…
The fate of Lotte Group hung in the balance several months ago, as the fraternal battle over control of the retail giant reached its peak. However, a year into the family battle, Chairman Shin Dong-bin managed to settle the dispute and strengthened his grip…
Eyeing the growing tourist market, Japanese department store Takashimaya is going duty free with an airport-style store in Tokyo. Not only sales tax, but also alcohol and tobacco duties will be waived under the venture, in which the Takashimaya Tokyo store is…
The largest South Korean retailers, faced with cut-throat competition in the rapidly saturating domestic market, are turning their attention to overseas markets in conjunction with small and mid-sized businesses to secure a new growth driver. The country’s…
Three Indonesian eCommerce platforms are about to be launched – by Astra Graphia, CT Corp and a joint venture formed by the Salim and Lotte Groups. This comes after forays into eCommerce in the past 12 months by such Indonesian conglomerates Lippo Group…
South Korean confectionery manufacturer Lotte Group is planning an eCommerce joint venture with one of Indonesia’s largest conglomerates, the Salim Group, within the next few months with the aim of being up and running by early next year. This follows a new…
Lotte Confectionery Co., a unit of South Korean retail giant Lotte Group, said Wednesday that Lotte’s Japan operation will increase its stake in the affiliate, a move seen as part of efforts to cement the incumbent group chairman’s grip in the conglomerate…
Lotte Group, a leading South Korean retail giant, vowed Thursday to nurture its female leaders to provide equal opportunities in its workforce. Group chairman Shin Dong-bin said in a forum that his conglomerate would increase female leaders to 30 percent of…
One in four unlisted affiliates of South Korea’s retail giant Lotte Group are found to meet requirements for a stock market debut, data showed Wednesday. The conglomerate has pledged to simplify its governance structure and boost its managerial transparency…
